Two members of DCP Midstream Partners LP (DPM)’s executive officers have purchased company shares, reported March 4 according to GuruFocus Insider Buys.
Executive Vice President and CFO of DCP Midstream Rose Robeson added 2,500 shares at $42.39, costing her $105,975, while President William Waldheim acquired 2,000 shares at $42.19, costing him a total of $84,380. Robeson now holds on to at least 14,501 shares of DPM, while Waldheim owns at least 23,800.
These insider buys mark the first insider trades since late 2011.
Market capitalized at $2.6 billion, DCP Midstream LP is a private energy company jointly owned by Phillips 66 and Spectra Energy. The company is headquartered in Denver, Colo., and primarily focuses on natural energy. DCP Midstream gathers, treats, processes and sells natural gas to wholesale markets. DCP gathers revenue from fee-based products and hedged commodity-based margins.
Rose Robeson joined DCP Midstream in May 2000 as vice president and treasurer and has maintained her position of CFO and executive vice president since January 2002. She has responsibility for DCP’s accounting, internal audit, finance, investor relations, risk management and tax functions. Prior to DCP, Robeson was a certified public accountant with Ernst & Young.
William Waldheim has served as the President of DCP Midstream’s northern business unit since 2009. Prior to that, Waldheim has served in various commercial and executive management positions for DCP since 1999. Waldheim also serves on the Board of Directors for the Rocky Mountain Chapter of Junior Achievement.
“We are off to a strong start in 2013,” said Bill Waldheim, president of DCP Midstream. “Since the beginning of the year, we announced the incremental investments in the Eagle Ford system and the Marysville storage project, all of which position us well to meet our target to significantly increase the size of the Partnership from 2012 to 2015.”
GuruFocus Guru Jean-Marie Eveillard, currently holds 521,178 shares of DPM.
With its stock down 0.34%, DCP Midstream currently trades at $42.70.
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